Best secured business credit cards of July 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 5:12 a.m. UTC July 1, 2024
Editorial Note: Blueprint may earn a commission from affiliate partner links featured here on our site. This commission does not influence our editors' opinions or evaluations. Please view our full advertiser disclosure policy.
Small business credit cards can be a great tool to manage spend and earn rewards points or cash back based on your business purchases. But when poor credit is involved, it can be tough qualify for a business credit card. Applying for a secured business credit cards that can help your business build good credit quickly. In most cases, we do not recommend secured business credit cards. But, if you’re set on getting one, here are the options for the best secured business credit cards of 2024.
Best secured business credit cards
- Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card *: Best all-around and for cash back.
- First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card *: Best for business management for Midwest residents.
Why trust our credit card experts
Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 55+ cards analyzed.
- 4+ data points analyzed.
- 5-step fact-checking process
Best all-around and for cash back
Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card
*The information for the Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best for business management for Midwest residents
First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card
*The information for the First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Compare the best secured business credit cards
N/A
N/A
The information for the Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why this card made the list
The Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card * The information for the Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is a good all-around secured business credit card, with no annual fee and 1.5% cash back on purchases. Once your credit improves, Bank of America may graduate your card to an unsecured credit card.
- Annual fee: $0.
- Rewards: Unlimited 1.5% cash back on purchases.
- Welcome bonus: None.
- Other benefits and drawbacks: You pick your own credit line based on the amount of money you put down as a security deposit, beginning at $1,000.
The information for the First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why this card made the list
A good option for Midwesterners looking for a secured business card that will help them manage their business while they grow their business credit score.
- Annual fee: $39.
- Rewards: None.
- Welcome bonus: None.
- Other benefits and drawbacks: Security deposit is 110% of the credit limit, unlike most secured cards where the security deposit equals your credit line. Gathering an extra 10% for the security deposit may be difficult for some small businesses.
Methodology
Our credit cards team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. There are only a few secured business credit cards on the market and we only found one of them to be available without any geographic restrictions.
What is a secured business credit card?
Secured business credit cards are a type of credit card designed to help businesses improve their credit score, similar to personal secured credit cards. One key feature of secured credit cards is that they require a business to put down a security deposit. The amount you deposit will be the basis for the credit line the bank offers you.
Should you get a secured business credit card?
Small businesses have credit scores, similar to personal credit scores, which can impact vendor terms, loan interest rates, and which business rewards credit cards you might qualify for. Eventually, as you pay your bills on time and don’t carry too much debt, that credit score will grow.
If your business or the business owner has poor credit, a secured business card can be a helpful tool to build a solid credit score for your business.
However, there are a couple drawbacks to secured business credit cards that you should keep in mind. The largest hurdle is the security deposit. While the security deposit will help qualify you for a credit card, which will help build your credit, not all businesses can part with the cash, even temporarily.
The other hurdle to secured business credit cards is simply the lack of options. Of the secured business cards we could find, only one, from Bank of America, is available nationally. It’s a fine card, but in most cases you’d be better served by working on your own personal credit score. This would improve not only your own personal finances, but would also improve the perceived creditworthiness of your business in the eyes of lenders as well.
Frequently asked questions (FAQs)
You’ll apply for the secured business credit card either in a bank branch or online. The application form will ask some basic questions about your business. If approved, the bank will instruct you to make a security deposit, which will form the basis for the credit line made available to you.
Secured business credit cards are used just like any other credit card, either online or in person, for your business’ needs. Given that the credit lines of any secured business card are determined by the size of the security deposit you put down, you’ll need to be extra mindful of the available credit to make sure you don’t hit your credit limit.
The best alternative to a secured business credit card would be a personal secured credit card. Not only are there a lot more options to choose from, but working on your personal credit score has the double benefit of improving your own personal finances while also boosting the creditworthiness of your business.
We’re only aware of a small handful of secured business credit cards. Bank of America, and FNBO offer secured business credit cards. Of these, only the card from Bank of America is available nationwide, while FNBO’s card is only available for residents near an FNBO branch, which are located in the Midwest.
*The information for the Bank of America® Business Advantage Unlimited Cash Rewards Secured credit card and First National Bank of Omaha Business Edition® Secured Mastercard® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
